Businesses need register for VAT, as their business expands. There is an additional amount of work required in this function, which can be time consuming. At The Hollies Bookkeeping we We look after this function for you, covering every aspect of accounting, thus ensuring that your accounts are fully prepared and on time, since time lapses can be very costly. Various items of course, may or may not be claimed against VAT, and many businesses are still not aware of these rules, for example in relation to differing rates applied in respect of charges on fuel etc..
Regardless of whether you are computerised or just maintain an “Ins” & “Outs” drawer, we will process your returns on a regular basis.
Poor cash management often results in an inability to meet VAT bills, this often results again in late payments and costly penalties. We will calculate your VAT returns as quickly as possible, providing we have received the required paperwork with time to prepare and give you notice of the payment required.
The Hollies Bookkeeping Services can act as your Agent for VAT purposes and therefore correspond with HMRC or your behalf. Paper VAT returns are pretty scarce now but our software also allows us to file your VAT returns online with HMRC.
Needless to say, late VAT registration, errors, late VAT returns and late VAT payments can all lead to penalties and possibly interest being charged. So allowing us to assist with your VAT affairs, not only gives you peace of mind, but it should also avoid you wasting your hard-earned cash on penalties and interest.